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president obama and john boehner did the gangnam style, your approval ratings might go up. "outfront" tonight, tom mcclintock of the budget committee. thank you for taking the time. we just showed a lot of your colleagues going home on a wednesday night after working a three-day week. obviously, that's an image that frustrates so many americans. why are people going home before getting this done? >> well, unfortunately, we're not using the standard process where the house passes its version, the is that the passes its version, then a conference committee is very good in revolving impasses like this between the two houses. unfortunately, none of that's being used and i think that's one of the reasons why these things are blocking down now so regularly. we've abandoned a process that works very well when we use it. >> john boehner presented a plan to the president and in that plan, he put $800 billion in revenue from the wealthy on the table. he said he would close loopholes and those people would pay more money. you were a member of the tea party caucus and some in your cauc
president obama and john boehner did the gangnam style, your approval ratings might go up. "outfront" tonight, tom mcclintock of the budget committee. thank you for taking the time. we just showed a lot of your colleagues going home on a wednesday night after working a three-day week. obviously, that's an image that frustrates so many americans. why are people going home before getting this done? >> well, unfortunately, we're not using the standard process where the house passes...
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rates. impasse is not an option. means everybody's taxes go up, but if the president has his way, taxes are going to go up on those very wealthy folks making over $200,000, but most are not very wealthy or folks, most are small businesses filing subchapter "s" companies, about 88% of net small business income will be for these taxes when we're depending on them to create two-thirds of the new jobs. boehner's trying to mitigate that mess. i wish him luck. something's going to f to have to give. >> something is going to have to give. from everybody i've talked to and from what we've heard, there two options for the country. one, go over the cliff. the other, extend the bush tax cuts for the 98% of americans. everyone who makes under $200,000 a year if they're single, $250,000 if they're a family. those seem to be the two choices. between those, which do you pick? >> but, if we do that and raise the taxes on those small businesses we were just talking about, according to the congressional budge
rates. impasse is not an option. means everybody's taxes go up, but if the president has his way, taxes are going to go up on those very wealthy folks making over $200,000, but most are not very wealthy or folks, most are small businesses filing subchapter "s" companies, about 88% of net small business income will be for these taxes when we're depending on them to create two-thirds of the new jobs. boehner's trying to mitigate that mess. i wish him luck. something's going to f to have...
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president obama continues to insist over and over again any deal must include a tax rate increase on the top 2% of wage earners which republicans just as firmly insist is a nonstarter. today the president is going to continue his public pressure campaign according to the white house, he's meeting with a middle class family in northern virginia to discuss as they put it the importance of extending the tax cut for the middle class. they have not extended it for the wealthy. this kind of public pressure no surprise to you has not set well with republican lawmakers, republican leaders on the hill and so we are still watching this really stare down between the two sides even though we see republican lawmakers and senators coming out and hinting they could accept a tax rate increase if it is part of a p d broader deal but boehner has strong support among his rank and file and the negotiations come down to speaker boehner and president obama. we wait, watch and listen to see if there are hints of progress. none so far. >> kate bolduan reporting live from washington. >>> in washington state,
president obama continues to insist over and over again any deal must include a tax rate increase on the top 2% of wage earners which republicans just as firmly insist is a nonstarter. today the president is going to continue his public pressure campaign according to the white house, he's meeting with a middle class family in northern virginia to discuss as they put it the importance of extending the tax cut for the middle class. they have not extended it for the wealthy. this kind of public...
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as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter. and the two men have not moved from that basic position. now, all of this comes at the same time treasury secretary geithner also said for the first time the administration would be willing to go over the fiscal cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. remember, it's only 2%. all those americans, too, get a tax cut on the first $250,000 of their income. so, in some sense it's a tax cut for all americans. >> reporter: bottom line, anderson, we're talking today but we're still at stalemate. >> yeah, i mean, it's a sign, jessica and dana, of just how lack -- how little progress there's been that a phone call is big news between these two. dana, we're also hearing hints of some m
as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter. and the two men have not moved from that basic position. now, all of this comes at the same time treasury secretary geithner also said for the first time the administration would be willing to go over the fiscal cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the...
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doesn't involve the rates going up on the top 2%. all of those americans too get a tax cut on that finramework. in some sense it is a tax cut for all americans. >> bottom line, we are talking today but we are still at stalemate. a phone call is big news between these two. >> we are hearing about senate republicans, what are you hearing, how significant is it. it is significant for a couple of reasons. these three republicans in different ways suggested that they would be okay with what most republicans are saying that they are not okay with. raising tax rates for the wealthy. he is the most conservative not just fiscally. the way these things tend to go, is that there is a little bit of a crack and that tends to send the other cracks into what is now a solid opposition and we will see how that goes. we are talking about senate republicans and the key thing that we have to watch is house republicans. if something can't get through the house, then it can't get through congress. >> david, what do you make of this situation? do you you t
doesn't involve the rates going up on the top 2%. all of those americans too get a tax cut on that finramework. in some sense it is a tax cut for all americans. >> bottom line, we are talking today but we are still at stalemate. a phone call is big news between these two. >> we are hearing about senate republicans, what are you hearing, how significant is it. it is significant for a couple of reasons. these three republicans in different ways suggested that they would be okay with...
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>> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> when you say compromise, where are you ready to compromise as far as taxes are concerned? >> how we go about tax reform, there's a lot of room to work together to lower the rates. >> give me an example? >> i'm not sure where the democrats are because they have not offered a plan. >> their plan is to keep the b
>> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have...